WorldFirst Home > blog > Global Business Tips > What info is required for bank transfers? A guide

What info is required for bank transfers? A guide

Last update: March 11, 2026

Contents

Bank account details help banks route payments into the correct account. However, the exact details you’ll need depend on what sort of transfer you’re making.

For example, for domestic transfers, you’ll only need your payee’s name, sort code and account number. On the other hand, sending international transfers via the SWIFT network means you’ll need to collect bank identification numbers (BIC) for both the sending and receiving banks.

In this article, we cover:

What information do you need to transfer money within the UK?
Which details do you need to make an international bank transfer from the UK?
The problem with relying on SWIFT transfers
How WorldFirst’s World Account helps you send and receive same-day payments

Want to start sending payments abroad with WorldFirst? Sign up for a World Account today.

Key Takeaways

Domestic and international transfers need different details
For UK bank transfers, you usually only need the recipient’s full name, sort code, and account number. For international transfers, the process is more demanding because you’ll typically need an IBAN, BIC or SWIFT code, the destination country, and the payment currency.
Accuracy matters because mistakes can delay or block payments
Even small errors in bank details can lead to delays, rejected payments, or funds being sent to the wrong place. That is why checking names, account information, references, and bank identifiers carefully is one of the most important steps before confirming any transfer.
Security checks are now a normal part of sending money
Banks often require two-factor authentication, verification codes, and fraud confirmations before a payment can go through. This can feel like extra admin, but it plays an important role in protecting your account and reducing the risk of scams or unauthorised payments.
Traditional SWIFT transfers can be slow, expensive, and unpredictable
International bank transfers sent through SWIFT often come with multiple layers of cost, including bank fees, intermediary charges, and exchange-rate markups. They can also take several business days to settle, which makes them less ideal for businesses that need better cash flow, clearer pricing, and faster payments.
A World Account is positioned as a smarter option for faster and cheaper global transfers
If your goal is to send or receive international payments more efficiently, the strongest solution presented here is WorldFirst’s World Account. It helps businesses use local payment routes instead of relying heavily on SWIFT, reduce FX costs, access local account details in 20+ currencies, and get faster settlement times. For readers looking for a practical way to make global transfers simpler, this is the clearest next-step solution in the article.

What information do you need to transfer money within the UK?

If you want to send a wire transfer through an online banking service (or at a UK bank branch), you’ll need to provide your payee’s:

Full name
6-digit sort code
8-digit account number

You might also need to provide your payee’s address, a reference number (common for bill payments) and the address of the bank that you’re sending money to. Similarly, if you want to receive money, you’ll need to supply these same details to your payer.

Add a short payment reference so your recipient knows what the transaction is for, then confirm the transfer date. Most financial institutions allow you to set up standing orders or schedule outgoing payments, which means online bank transfers can be sent automatically without you having to remember each one.

The time it takes bank wires to arrive in the payee’s account can vary between 20 seconds and 10 days, so it’s best to confirm with your bank how long it’s expected to take.

What security details do you need to provide for a bank transfer?

To help prevent fraud, UK banks have introduced authentication methods such as two-factor authentication (2FA) to ensure that scammers aren’t using your bank account details fraudulently.

Once 2FA is set up, you’ll need to clear your own security questions to set up a standing order or make an online bank transfer. If you’re asked for a verification code, you’ll receive this either on your mobile or to your email address.

You’ll then need to confirm that you understand the fraud risk and that you can’t retract your payment once it’s been sent.

What details do you need to make an international bank transfer from the UK?

In order to make a cross-border bank transfer, you’ll need the following details:

Your name or your company’s name
The International Bank Account Number (IBAN) of the account you want to credit
The Bank Identifier Code (BIC) of your payee’s bank, also known as a SWIFT code

You’ll also usually need to confirm the currency you want the payment to be sent in, as well as the country you’re sending it to. Additionally, you might also need to confirm the receiving bank name is correct to ensure funds don’t get sent into the wrong account.

If you want to receive international payments, then you’ll need to supply these same details to your payer.

The problem with relying on SWIFT transfers

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) network is a convenient, internationally accepted way of transferring money across the globe. However, it’s important to be aware that using SWIFT does come with a number of drawbacks.

SWIFT transfers tend to involve high costs – including bank charges, intermediary fees and exchange-rate markups.

Each bank sets its own fees, which means you often won’t know the true cost until after the transfer settles. Intermediary banks can charge up to £25 per transaction, so with three correspondent banks involved, your final transfer amount could be reduced by as much as £75.

Traditional SWIFT payments often take as long as six business days to settle, especially when multiple banks are involved in the chain. As settlement times are slow and unpredictable, money can be in transit longer than expected, tying up your cash flow and delaying receipt of payment.

It’s for these reasons that many companies are turning to alternatives like WorldFirst instead.

How WorldFirst’s World Account helps you send and receive same-day payments

WorldFirst is a digital payments platform that helps you send and receive same-day payments from almost anywhere in the world – both domestically and overseas. Since 2004, we’ve helped 1.5 million businesses send more than US$500 billion across the world.

Our multi-currency World Account lets you receive payments in 20+ currencies and pay in 100+. It’s free to open an account, and we don’t charge any ongoing account fees, hidden markups, fees for receiving payments or fall-below fees.

Here’s what you get when you sign up for a World Account:

Pay like a local in 20+ currencies and avoid expensive SWIFT fees

With WorldFirst, you can pay like a local in 20+ currencies, resulting in more affordable, faster payments.

Within your World Account, you can create multiple sets of domestic bank details entirely for free, including your own unique BICs, account numbers and sort codes.

By using these local details, your international payments can bypass the SWIFT network entirely, instead being processed through domestic networks like CHAPS, the Faster Payments service or SEPA in Europe. Your funds are treated as domestic transactions rather than international ones

This way, you can avoid expensive SWIFT fees and any additional currency exchange charges from intermediary banks. We’ll always send your payment through the fastest route possible, which is why 80% of WorldFirst payments land on the same day and 90% settle by the next business day.

It’s also completely free to send payments to other World Accounts, which is especially useful if you’re primarily making domestic transactions in GBP, or sending to overseas suppliers who already have an account with WorldFirst.

Convert currencies at affordable rates when sending payments overseas

Traditional banks typically charge between 3% and 5% per overseas transfer, which can quickly snowball into a large expense if you make frequent international payments.

In contrast, WorldFirst helps you save on currency conversion costs by offering competitive and transparent pricing. For instance, we add a maximum conversion fee of 0.5% onto the mid-market exchange rate for major currencies like GBP, USD and EUR. For all non-major currencies, our FX fee is capped at 0.75%.

To protect against market volatility and fluctuations in the underlying exchange rate, you can also take advantage of advanced FX tools like forward contracts. This lets you convert currency at a set exchange rate in the future – and with WorldFirst’s currency forwards you can lock in rates for up to 24 months.

Another option is to set up rate alerts to get notified once an exchange rate hits your desired level. Alternatively, you could place a firm order, which automatically executes the currency conversion on your behalf once that rate becomes available.

Use advanced security features to keep your funds safe

WorldFirst is fully licensed and regulated by the Financial Conduct Authority (FCA) in the UK.

We offer advanced anti-fraud protections like two-factor authentication (2FA) and 256-bit encryption to make your World Account more secure. Having 2FA means you’ll be asked to enter an extra code whenever you log into your account, create a new payee or make a payment.

We also support real-time fraud monitoring and 3D Secure (3DS) card payments so that we can safeguard you against unauthorised access and scams.

You can also create up to 50 virtual World Cards in your World Account, all of which come with unique payment details. Simply create a new debit card, use those details and then immediately delete your card once you’ve made your payment so the card can’t be reused and funds compromised..

Open a World Account to make fast, cost-effective transfers worldwide

In this article, we’ve shared the differences between making a bank transfer in the UK vs. overseas, as well as the details you’ll need for each.

We’ve also shared why WorldFirst’s World Account is one of the best alternatives to bank transfers, regardless of whether you’re making international or domestic payments.

With a World Account, you can:

Receive local account details for 20+ currencies and access local payment networks
Avoid expensive SWIFT fees and benefit from low currency conversion costs
Keep funds secure with advanced security features like 2FA and 3DS card payments
Create up to 50 virtual World Cards, each with unique payment details

Ready to get started with WorldFirst? Sign up for a World Account for free.

FAQ

What details are needed for a bank transfer?

You’ll usually need the recipient’s full name, account number or IBAN, and the bank’s name. For international transfers, you may also need the SWIFT or BIC code, the bank address and a payment reference. The details need to be exact, or the payment could be delayed or rejected.

What card details are needed for someone to pay me?

If someone is paying you by card, they’ll usually need the card number, cardholder name, expiry date and sometimes the billing address. In most cases, though, payments are taken through a payment link or gateway rather than by sharing card details directly. Never share your PIN.

What is a bank transfer?

A bank transfer is a way to move money electronically from one bank account to another. It’s commonly used to pay suppliers, send money to individuals or settle invoices, both locally and internationally. Bank transfers are secure, widely accepted, and don’t require physical cash.

How do you make a bank transfer?

To make a bank transfer, log in to your bank account, choose the option to send money and enter the recipient’s details. That usually includes their name, account number or IBAN, and bank details. Then enter the amount, check everything carefully and confirm the payment. For international transfers, you may also need the currency and a SWIFT or BIC code.

Abdul Muhit has 17 years' experience in banking and payments, spanning across regulation, payment networks, acquiring, issuing and treasury.

Abdul Muhit

Author

Commercial Growth Manager, WorldFirst UK

The simpler way to pay and get paid

Save money, time, and have peace of mind when expanding your global business.

Get started

What info is required for bank transfers? A guide

Key Takeaways

What information do you need to transfer money within the UK?

What security details do you need to provide for a bank transfer?

What details do you need to make an international bank transfer from the UK?

The problem with relying on SWIFT transfers

How WorldFirst’s World Account helps you send and receive same-day payments

Pay like a local in 20+ currencies and avoid expensive SWIFT fees

Convert currencies at affordable rates when sending payments overseas

Use advanced security features to keep your funds safe

Open a World Account to make fast, cost-effective transfers worldwide

FAQ

What details are needed for a bank transfer?

What card details are needed for someone to pay me?

What is a bank transfer?

How do you make a bank transfer?

Continue reading

Top 7 Payoneer alternatives for global payments [2026]

7 best Monzo alternatives for UK businesses in 2026

Is Dropshipping Legal in the UK? Rules, Tax and VAT Explained

AI Dropshipping: How It Works, Tools and Real Costs

Citibank Multi Currency Account review: is it right for UK businesses?

Monzo review: is it right for UK businesses?

The simpler way to pay and get paid

What info is required for bank transfers? A guide

Key Takeaways

What information do you need to transfer money within the UK?

What security details do you need to provide for a bank transfer?

What details do you need to make an international bank transfer from the UK?

The problem with relying on SWIFT transfers

How WorldFirst’s World Account helps you send and receive same-day payments

Pay like a local in 20+ currencies and avoid expensive SWIFT fees

Convert currencies at affordable rates when sending payments overseas

Use advanced security features to keep your funds safe

Open a World Account to make fast, cost-effective transfers worldwide

FAQ

What details are needed for a bank transfer?

What card details are needed for someone to pay me?

What is a bank transfer?

How do you make a bank transfer?

Continue reading

Top 7 Payoneer alternatives for global payments [2026]

7 best Monzo alternatives for UK businesses in 2026

Is Dropshipping Legal in the UK? Rules, Tax and VAT Explained

AI Dropshipping: How It Works, Tools and Real Costs

Citibank Multi Currency Account review: is it right for UK businesses?

Monzo review: is it right for UK businesses?

The simpler way to pay and get paid

Pay in 15 currencies with World Card, no FX fees

Enjoy zero FX fees when paying in the following 15 currencies with World Card.

Send money in 100+ currencies

You can send money in your WorldFirst account to any of the currencies we support.

Get Paid by 130+ marketplaces

Seamlessly get paid by 130+ marketplaces and pay your suppliers anywhere.

Collect money in 20+ currencies

You can collect money in 20+ currencies. It only takes a few minutes to open an account in the currency you need.